- Posted on February 01, 2022
- News
- By FC Team
- 500 Views
Stocks surged for a second day Monday to wrap up a rough January, as investors snapped up some of the tech shares that have been battered all month.Despite the two-day relief rally, the S&P 500 and the Nasdaq Composite posted their worst months since the onset of the pandemic, as investors braced for the Federal Reserve to raise interest rates multiple times this year.The S&P 500 rose 1.89% to 4,515.55, closing out the month down 5.3%. That’s its worst month since the 12.5% loss in March 2020, and its biggest January decline since 2009. The Dow Jones Industrial Average added 406.39 points, or 1.2%, to reach 35,131.86. That helped it cut its monthly loss to 3.3%, as it benefitted from its underweighting in tech shares.The tech-heavy Nasdaq Composite rose 3.41% to 14,239.88, adding to its 3% comeback Friday. The index still ended down 8.9% for January, its worst month since March 2020.cnbc.com